825 E Marlette Ave, Phoenix, AZ 85014

Marlette 8 is an eight-unit boutique apartment property located in the heart of North Central Phoenix. The property sits directly in the middle of Uptown, just off of the famed 7th Street Corridor/Restaurant Row. It is a 3/4 of a mile to the original Yard (and Culinary Dropout) concept that was the impetus to the massive 7th Street/Restaurant Row growth. The property sits on a quiet street, minutes away from the Crown Plaza development with Wildflower Bread Company and Rito's Mexican Food. The Womack, an amazing tribute to the iconic Phoenix bar, Chez Nous, is also a short bike ride/walk away, as well as Fuego Bistro, Mora Italian, Cold Beers & Cheeseburgers and all of the dining and shopping at Uptown Plaza just to name a few. This property really sits in the heart of it all. The location is as popular as it gets and allows residents to enjoy, with ease, so much of what Phoenix has to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, Marlette 8 is an extremely desirable property for residents to live. Marlette 8 consists of half two-bedroom/one-bath units and half one-bedroom/onebath units. They are all individually metered for electricity and all of the units have individual washer/dryers. Three of the units have been completely remodeled with new cabinets, quartz countertops, deep basin sink with pull-down sprayer, stainless steel appliances, new faux wood vinyl flooring throughout, upgraded electrical and plumbing fixtures, two-tone paint, etc. Three of the units have had partial renovations, with painted cabinets, resurfaced countertops, new appliances, new faux wood vinyl flooring and carpet in bedroom, upgraded electrical and plumbing fixtures and twotone paint. Two of the units are fairly original. Value-add opportunities exist through additional updates to the five units that have not been completely upgraded as well as by giving the exterior an easy face-lift. The property sits on two separate parcels, allowing for someone to get 30-year fixed rate residential financing if desired. This is a phenomenal bite-sized opportunity in an Class-A location that should continue to improve as things continue to happen in the heart of Uptown Phoenix.